Mountain Top Properties, Inc. Debuts the Energy Market with Microalgae Emulsion Technology

Thursday, 16. September 2021 17:36

Charlotte, North Carolina, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Mountain Top Properties, Inc (OTC PINK: MTPP) announces today they are ready to launch and announce to energy users worldwide their Microalgae Emulsion Technology. The deployment of the technology will increase interest in the benefits it provides particularly in reducing electricity costs and improving carbon neutrality.

The company is currently in negotiations with the state of North Carolina regarding placing a manufacturing and post-process facility. Completion of the negotiations and signing of a lease later this year will identify the opening of a Microalgae Emulsion Innovation Center in Leland, North Carolina.

The company intends to operate on a Build-Own-Operate business plan. On September 10, 2021, the company entered into a Power Purchase Agreement with Aasal Hydrotech & Steel, based in Islamabad, Pakistan, to supply an uninterrupted electricity supply for a seven-and-a-half-year term. The tariff agreed on was 25% less than the local electricity company would deliver electricity for, and the total value of the agreement generates revenues of $5.588 million USD. Those revenues are further supported by the sale of additional renewable energy bioresources, of $6.985 million USD, which are a by-product from the microalgae cultivation.

The Power Purchase Agreement with Aasal Hydrotech & Steel is the first of many from an extensive list of companies in Pakistan who have expressed interest in buying electricity under similar Power Purchase Agreements. More importantly, when fully operational, this amount of interest will give the company an established position ready for the National Electric Power Regulation Authority’s launch of the Competitive Trading Bilateral Contracts Market, which is scheduled for early next year.

The company plans to submit an application to the World Bank, which is an international financial institution whose role is to reduce poverty by lending money to the governments of low and middle income countries to improve their economies and to improve the standard of living of their people. This could generate 20-30 institutional Customers.

Forward-Looking Statements
                                                                                              
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Mountain Top Properties beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and Mountain Top Properties undertakes no duty to update such information, except as required under applicable law.

For more information, please contact: tteece@mountain-top-properties.com                                           

Source: Mountain Top Properties (OTC Pink: MTPP)


Related Links: 
Author:
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.